The CEOs of Schroders and Aviva Investors have highlighted potential dangers of the Senior Managers and Certification Regime (SM&CR), which they said could enhance the hierarchical structure within asset management.
They also warned the new regime could lead to decisions being made by senior management who do not have the same specialist knowledge in a particular field as employees in the levels below them. Speaking...
£300bn of liabilities
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Appointed by FCA and PSR boards